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    sanifu01's Avatar
    sanifu01 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 26, 2010, 05:42 PM
    Prepare a process cost report for July
    Data for oceanic company for the month of June 2001 are as follows
    Beginning work in process inventory:
    Units 800
    Direct materials-100% complete
    Conversiton costs-70% complete
    Direct material costs-2860
    Conversion costs-2150
    ENDING WORK IN PROCESS INVENTORY
    Unit-1500
    Direct material-100% complete
    Conversion cost-30% complete
    OERATION FOR THE MONTH OF JUNE
    Units started-14,000
    Direct material costs-57,400
    Conversion costs-50,122

    b. Identifly the amount that should be transferred out of the Work in Process Inventory account, and state where those dollars should be transferred.
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member
    		  
    #2

    Apr 28, 2010, 11:19 PM

    This is long, complicated stuff. I can give you a link explaining process costing:
    Principles of Accounting Chapter 20

    But in order to get help on a problem like this, you are going to have to make an attempt at it so someone can see where you might be going wrong, or ask some very specific question.
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